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Kisha opened an Office Cleaning Service company on January 1 , 2 0 2 5 . During the year she had the following transactions. a

Kisha opened an Office Cleaning Service company on January 1,2025. During the year she had the following transactions.
a. She started the business with investing $25,000 of her own money (business was organized as corporation)
b. Purchased $18,000 of furniture and equipment. Paid $14,000 in cash and the rest was on account.
c. Purchased a truck for $35,000 for business use. Paid $5,000 in cash and signed a 3-year note for the rest.
d. Borrowed $20,000 from the bank by issuing a 5-year note.
e. During the year, provided $90,000 services to customers of which $75,000 was collected, the rest was not yet collected as of Dec. 31st.
f. During the year, she incurred $65,000 of salaries and wages expenses of which $5,000 was still not paid as of Dec. 31st.
g. During the year, she paid $5,000 to the bank of which $3200 was for interest and the rest was for payment of the principal of the loan.
h. During the year, she took $3,000 as dividend (dividends paid to shareholders).
i. During the year, purchased $6,000 of supplies in cash.
j. During the year collected $1,500 interest from the bank.
k. During the year paid $8,000 for renting office space.
l. She sold $1200 of unnecessary equipment in cash at cost.
m. She collected $3,000 from a customer in advance for services to be rendered next year.
n. During the year paid $1,700 income taxes to IRS.
o. A physical inventory revealed only $1000 of the supplies was left on Dec. 31st.
p. Depreciation expense for the year was $2,500.
Compute and provide answers to the following questions.
Example of Answer: 4000 No comma, space, decimal point, or $ sign.
Show net loss or negative net cash flows with minus. Example: -4000
Total operating revenues for the year =
Total operating expenses for the year =
Income from operations for the year =
Net income or Net Loss for the year =
Retained Earnings as of Dec. 31st =
Total Current Assets as of Dec. 31st.=
Total Current Liabilities as of Dec. 31st.=
Net cash flows from operating activities =
Net cash flows from investing activities =
Net cash flow from financing activities =

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